ECB’s Lagarde More Confident of Meeting Inflation Target

The European Central Bank is more confident that inflation is going to settle at its target after a series of recent data releases, and will take that into account when it next sets policy, President Christine Lagarde said Monday, WSJ Pro Central Banking reported. Figures released on Friday and earlier Monday by the eurozone’s largest economies all point to a big decline in the inflation rate during September. Economists expect figures for the eurozone as a whole that will be released Tuesday to record the first drop below the ECB’s 2% target since mid-2021.
Europe
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Recaro Bankruptcy Reportedly Halts Ineos Grenadier Production

Vehicle production is a tough undertaking that requires numerous businesses to work towards a common goal, Car and Driver reported. Ineos recently proved just how tough a task that is by pausing production of the Grenadier SUV and Quartermaster pickup truck. A new report from Automotive News Europe suggests that the production pause may be due to Recaro's recent bankruptcy. The famous German sports seat supplier filed for insolvency in July, four years after being purchased by a U.S.-based private investment company.
Germany
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Thailand's Central Group Takes over Swiss Department Stores Globus

Thai retail and property conglomerate Central Group said on Monday it will take over the operational business of Magazine zum Globus AG, which operates luxury department stores in Switzerland, Reuters reported. Globus is another piece of the fallen empire of Austrian property tycoon Rene Benko, whose sprawling Signa group folded late last year, sending shockwaves through a European property sector already beset with problems.
Thailand
Switzerland
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German Inflation Falls Further Below ECB Target, Raising Chance of October Rate Cut

German inflation declined further below the European Central Bank’s 2% target in September, further raising the chance of a consecutive interest-rate cut at the bank’s next meeting in October, the Wall Street Journal reported. Consumer prices were 1.6% higher than in September last year, down from 1.9% in August, German statistics office Destatis said Monday. The German data comes after inflation cooled more rapidly than expected in France and Spain, potentially increasing the pressure on policymakers to vote for an ECB rate cut on Oct.
Germany
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European Carmakers Warn on Profits in the Face of Weak Demand and Rising Costs

European carmaker Stellantis on Monday joined bigger rival Volkswagen and others in warning about the worsening outlook for auto demand and rising costs, wiping billions of euros off the sector's market value, Reuters reported. The companies are struggling with weak demand in China and the United States and a potential trade war between Beijing and the European Union as the EU prepares to finalise import tariffs on Chinese electric vehicles, imposed over alleged subsidies.
Europe
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